VHDA Announces Increased Income and Sales Price Limits

VHDA Announces Increased Income and Sales Price Limits

Exciting news for first-time homebuyers in Virginia: the Virginia Housing Development Authority (VHDA) has announced higher income and sales price/loan limits. The changes will take effect with new applications beginning September 5, 2019. Thanks to the increased limits, more first-time…
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Who Qualifies for a VHDA Loan?

Who Qualifies for a VHDA Loan? Purchasing a home is a big life achievement for many people. That’s because it takes plenty of time and saving to be able to afford a down payment. Luckily, there are plenty of government…
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7 Reasons Your Mortgage Was Declined

Being told that your mortgage was declined can leave you feeling disheartened. While it may be frustrating, it can be an important learning experience for you as a homebuyer. Mortgages can be declined for a number of reasons, but once…
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5 Reasons You Need to Talk Your Lender First

Before beginning the home search, talking with a lender is a crucial move. Not only will you know the exact amount of home you can afford, but you’ll also have all your necessary documents in order, which gives you an…
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FHA 203(k) Loans: Standard vs. Limited

If you are looking to make some renovations or even build your dream home from the ground up, then you may want to know about construction loans. Construction loans are great financing solutions that provide homeowners with the tools and…
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How a Fixed-Rate Mortgage Works

When you get a mortgage, there is much to consider. One of the biggest decisions a borrower will make is whether to choose a fixed-rate mortgage, or an adjustable-rate mortgage (ARM). While both loans have their benefits, you should begin…
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How Does a Mortgage Credit Certificate from the VHDA Work?

If you’re looking to purchase your first home, you could begin the process by applying for a Mortgage Credit Certificate (MCC) and possibly saving thousands of dollars. A helpful non-profit to familiarize yourself with if you are searching for a…
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Navigating the Homebuying Journey: A Guide for the First-Time Homebuyer

For many homebuyers, buying a home can be a huge burden. If you’re a first-time homebuyer, this milestone can be an especially stressful and overwhelming time. Fortunately, with help from the right lender, you can navigate the road to homeownership…
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5 Things You Should Know Prior to Making a Down Payment on a House

Are you a homebuyer trying to figure out how much you should put down on your house? Buying a house can be overwhelming, and making your down payment can be especially stressful if you don’t have all the correct information.…
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Mortgage Rate Lock: How To Know If You Should Lock Your Interest Rate

The most important factor in your mortgage may be the interest rate. The rate you pay on your mortgage will decide your monthly mortgage payment, as well as the total lifetime cost of your mortgage. Getting the best rate is…
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